Steven Madden Q1 Earnings Beat Estimates, Revenues Increase Y/Y

Core Insights - Steven Madden, Ltd. (SHOO) reported first-quarter 2025 results with total revenues increasing but earnings decreasing compared to the previous year [1][4] - The company experienced strong execution of strategic initiatives despite challenges from new tariffs on U.S. imports [2] - SHOO has withdrawn its 2025 financial guidance amid macroeconomic uncertainty [3] Financial Performance - Adjusted quarterly earnings were 60 cents per share, surpassing the Zacks Consensus Estimate of 46 cents, but down 7.7% from 65 cents in the prior-year period [4] - Total revenues rose 0.2% year over year to $553.5 million, missing the consensus estimate of $562 million [4] - Adjusted gross profit increased 0.7% year over year to $226.5 million, but also missed the estimate of $226.9 million [5] Segment Performance - The wholesale business generated revenues of $439.3 million, a 0.2% increase from the first quarter of 2024, but below the estimate of $440.9 million [7] - Direct-to-consumer (DTC) revenues decreased 0.2% to $112.1 million, falling short of the expected $121.4 million [8] Strategic Initiatives - The acquisition of Kurt Geiger for approximately £289 million is seen as a key growth driver, aligning with SHOO's strategic goals in international expansion and DTC channels [2][12] - The company ended the quarter with cash and cash equivalents of $144.8 million and did not repurchase any shares in the open market [10] Dividend Announcement - SHOO announced a cash dividend of 21 cents per share, payable on June 20, 2025, to shareholders of record as of June 9 [11]